BSAC Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	15.18B EUR	6.21T EUR	6.29T EUR	5.86T EUR
Enterprise Value	--	13.77T EUR	13.72T EUR	13.75T EUR
Valuation Multiples
Trailing P/E	12.44x	5.51x	6.19x	7.88x
Forward P/E	10.61x	--	--	--
Price to Sales	--	1.88x	1.96x	2.37x
Price to Book	1.32x	1.25x	1.33x	1.04x
EV/Revenue	--	4.17x	4.28x	5.56x
EV/EBITDA	--	--	--	--
Price to FCF (P/FCF)	--	5.91x	156.82x	--
EV/FCF	--	13.13x	341.82x	--
FCF Yield	--	16.91%	0.64%	-0.88%